William Guyer Sells 20,000 Shares of Corcept Therapeutics (NASDAQ:CORT) Stock

Corcept Therapeutics Incorporated (NASDAQ:CORT) insider William Guyer sold 20,000 shares of Corcept Therapeutics stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $40.97, for a total transaction of $819,400.00. Following the completion of the sale, the insider owned 2,231 shares in the company, valued at approximately $91,404.07. This trade represents a 89.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

William Guyer also recently made the following trade(s):

• On Friday, March 20th, William Guyer sold 11,767 shares of Corcept Therapeutics stock. The shares were sold at an average price of $36.01, for a total transaction of $423,729.67.
• On Wednesday, March 4th, William Guyer sold 8,233 shares of Corcept Therapeutics stock. The shares were sold at an average price of $35.99, for a total transaction of $296,305.67.
• On Tuesday, February 3rd, William Guyer sold 20,000 shares of Corcept Therapeutics stock. The shares were sold at an average price of $40.87, for a total transaction of $817,400.00.

Corcept Therapeutics Stock Up 0.9%

Shares of NASDAQ CORT opened at $42.25 on Friday. The company’s 50-day simple moving average is $37.49 and its 200-day simple moving average is $58.71. Corcept Therapeutics Incorporated has a 52-week low of $28.66 and a 52-week high of $91.00. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 51.53 and a beta of 0.25. The company has a quick ratio of 2.85, a current ratio of 2.92 and a debt-to-equity ratio of 0.01.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Tuesday, February 24th. The biotechnology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.13). Corcept Therapeutics had a net margin of 12.96% and a return on equity of 15.19%. The company had revenue of $202.13 million during the quarter, compared to analyst estimates of $254.94 million. During the same quarter last year, the business earned $0.26 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts predict that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Corcept Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of CORT. AQR Capital Management LLC raised its stake in Corcept Therapeutics by 546.9% during the third quarter. AQR Capital Management LLC now owns 1,507,209 shares of the biotechnology company’s stock worth $125,264,000 after purchasing an additional 1,274,215 shares during the period. Geode Capital Management LLC raised its stake in Corcept Therapeutics by 38.0% during the fourth quarter. Geode Capital Management LLC now owns 2,668,918 shares of the biotechnology company’s stock worth $92,892,000 after purchasing an additional 734,646 shares during the period. Norges Bank purchased a new position in Corcept Therapeutics during the fourth quarter worth about $24,213,000. JPMorgan Chase & Co. raised its stake in Corcept Therapeutics by 223.4% during the third quarter. JPMorgan Chase & Co. now owns 849,864 shares of the biotechnology company’s stock worth $70,632,000 after purchasing an additional 587,053 shares during the period. Finally, UBS Group AG raised its stake in Corcept Therapeutics by 413.8% during the third quarter. UBS Group AG now owns 549,938 shares of the biotechnology company’s stock worth $45,705,000 after purchasing an additional 442,898 shares during the period. 93.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Zacks Research downgraded shares of Corcept Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Corcept Therapeutics in a research note on Monday, December 29th. Wolfe Research raised shares of Corcept Therapeutics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, March 26th. Canaccord Genuity Group raised their price target on shares of Corcept Therapeutics from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th. Finally, HC Wainwright decreased their price target on shares of Corcept Therapeutics from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.67.

Corcept Therapeutics Company Profile

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.